Germany may not have enough time to build up sufficient gas reserves before winter
The German Gas Storage Association has warned that the country risks failing to meet its target for filling storage facilities by November if the rate of gas injection remains at current levels.
Although there is no gas shortage, low storage levels combined with a very cold winter could threaten the country’s industry.
“If gas injection continues at the same pace, Germany will not meet the legal requirements for filling storage facilities by November 1,” Sebastian Heinermann, managing director of the INES gas storage association, told Euronews Business.
As of August 25, German storage facilities were approximately 51.5% full, compared to about 69% a year earlier. Germany must reach a total fill level of 70% by November 1.
The reason for this slow pace is high prices, which currently make it unprofitable for companies to purchase and store large volumes of gas.
The German Ministry of Economy previously stated that, based on current information, a gas shortage is not expected this winter. The country can also rely on Norwegian pipeline gas, liquefied natural gas (LNG) terminals, and supplies from neighboring countries.
Source: Euronews.
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